After months of speculation, months of waiting, months of hoping that a brighter future is ahead, the New York Knicks know where they'll be picking in the 2019 NBA Draft.

The Knicks won the No. 3 pick in the Draft lottery, held at the Hilton Chicago Tuesday night.

That means they almost certainly won't have the chance to draft former Duke sensation Zion Williamson, the presumptive No. 1 overall pick, which was surprisingly won by the New Orleans Pelicans.

The Knicks, then, should have the chance to draft either Ja Morant or RJ Barrett, widely considered top-three picks.

“We are excited to have the third pick," Knicks president Steve Mills and general manager Scott Perry said in a statement, "and are confident we will be able to add a great player to our talented young core and the team that we are building.”

The Knicks put themselves in position for a high pick by going an NBA-worst 17-65 this past season, which in previous years would've meant a 25 percent chance at the top overall pick.

But under the revamped lottery rules this year, which were put in place to dissuade tanking, the Knicks had just a 14 percent chance at the No. 1 spot.

Those were the same odds held by the Cleveland Cavaliers and Phoenix Suns with the three worst teams holding the same chances for the top-three picks.

So the Knicks had an 86 percent chance of not winning the lottery.

Still, the team and its fans were hoping that luck would be on their side, and they could emerge with the top pick for the first time since 1985 when they were able to draft Patrick Ewing.

Even more intrigue was thrown into the lottery when the Cavaliers and Suns dropped to fifth and sixth, respectively, and the Lakers jumped up to fourth.

Suddenly, the suspense intensified.

"I was still hoping that we were going to get the No. 1 pick, but three’s very good," said Ewing, who represented the Knicks on the dais Tuesday night. "I think, I’m proud and whoever we draft I know they’re going to be happy and proud to be a New York Knick."

So while the Knicks didn't get the top pick, a top-three pick isn't a bad spot to be in, especially since many evaluators consider this a top-heavy draft with Williamson, Barrett and Morant the top options.

"Obviously it’s New York," Morant said. "It’s somewhere I’ve never been before. But it’s a big spot. And I guess it’d be a great experience."

The Knicks also have to hope that the addition of another young talent can help entice a star free agent to join them after July 1.

Kevin Durant and Kyrie Irving are considered two of their top targets, but Kawhi Leonard, Kemba Walker, Jimmy Butler and Tobias Harris, among others, are poised to hit the open market.

While their offer wouldn't be as strong as it would've been with the No. 1 pick, they still might be able to be in the conversation to land Davis, who has one more year left on his contract.

"There’s a value for everything," Pelicans executive vice president of basketball operations David Griffin said. "I think there’s a situation in our league where most people try to shy away from big decisions because you can be wrong. That’s not how our organization’s going to operate. We’re going to do what’s best for us long term, whatever that looks like."

The Knicks will now have the chance to interview prospects and continue to evaluate them at the NBA Combine later this week.

For now, any suspense is over.

They know where they're picking.

"You know, you look at all the guys that are in this room, they all have great talent," Ewing said. "They all have great abilities. And whoever we pick is going to be somebody that is going to help to rebuild the franchise."

David Griffin, Executive Vice President of basketball operations for the New Orleans Pelicans holds up a placard after it was announced that his team had won the first pick during the NBA basketball draft lottery Tuesday, May 14, 2019, in Chicago. (AP Photo/Nuccio DiNuzzo) Nuccio DiNuzzo, AP

NBA Deputy Commissioner Mark Tatum announces that the New York Knicks had won the third pick during the NBA basketball draft lottery Tuesday, May 14, 2019, in Chicago. (AP Photo/Nuccio DiNuzzo) Nuccio DiNuzzo, AP

NBA Deputy Commissioner Mark Tatum announces that the New Orleans Pelicans had won the first pick during the NBA basketball draft lottery Tuesday, May 14, 2019, in Chicago. (AP Photo/Nuccio DiNuzzo) Nuccio DiNuzzo, AP